The Beast - Here again 6 months later.
Hibernating is a good thing to do for some species. Some store food and save energy. Some avoid unfavorable climate conditions and some do it to metamorphosize into butterflies/moths or whatever.
We have definitely been storing food and eating good at team Squeeezy Trades.
So what has happened since our "Beast Loading up" idea?
- A drop to $83.4 on 090222 to establish what we would learn was the bottom for an astronomical move to the upside.Barring the revisit to $89 9 days later (180222) we haven't seen prices at these levels in 6 months.
- A war that took up well above $100 a barrel due to Russia being sanctioned by many and supply issues............Bla Bla Bla. (well..... pretty sure we made mention of the Red Vector candles from 2014 that were above $100 that needed recovering)- Oil actually went to 129.4ish and then did a mega dive.
- After 2 tests of $93 zone a 3 month rally commenced from there to 123.4ish before the 7 week down journey to where we are now.
Sooooo. What now?
We are looking at the same zones to the downside that we were looking at back in Feb. Why because that's where the Green Vector candles are. We are getting there!
For those who trade using EMAs we are coming up to a significant touching point in the daily time frame.
This is where price meets with the 800 EMA.
Why is this so massive?
(i) Because the 200 EMA in the daily was touched/tested twice in December of 2021 and - after the 100 EMA in the daily was broken at the 3rd time of asking in July - 6 times this summer before being broken. This makes the 800 EMA the next logical stop
(ii) this is where a reversal is more than likely to take place.
(iii) The Green Vector candles from 240122/250122 that began the sharp and powerful rises this year are in the vicinity of where the potential contact will take place.
What next?
Remember you heard it here first, there will be some big news that will cause a big drop, but after that there will be a run like never before that will take Oil back above $100 and to $132 where it will make contact with the next Red Weekly Vector candle from July 2008.
There after we believe $143 could be next and at a further stretch there will be a new All Time High made at $147. This could take until 2023 to happen but would be great to happen between Sept/Oct 2022 and March 2023.
We cannot forget that $62 (3 times - May 2021, Aug 2021 & Dec 2021) and $66 Dec 2021) area is actually the real support for the year of 2021. Bear it in mind.
$57 (March 2021) and $53 are levels it can go to break a Bull Heart but sure absolutely everyone is praying against that.
We stand by the theory that the 800 EMA in the daily will be the reversal point. As it is also the 100 EMA for the weekly TF.
Currently, depending on how the next 2 week candles go Price should line up to anywhere from $70 to $78 but could also do it from $80-$83.
We know this is not helping get the best entry prices but really and truly, behavior of price in the next 2 weeks will indicate the best time to get in.
We are waiting for a bottom to form at a place where a strong reaction happens in line with a bunch of confluences and levels aligning.
Good luck traders!
This is not financial advice and should be taken with a pinch of salt!
We have definitely been storing food and eating good at team Squeeezy Trades.
So what has happened since our "Beast Loading up" idea?
- A drop to $83.4 on 090222 to establish what we would learn was the bottom for an astronomical move to the upside.Barring the revisit to $89 9 days later (180222) we haven't seen prices at these levels in 6 months.
- A war that took up well above $100 a barrel due to Russia being sanctioned by many and supply issues............Bla Bla Bla. (well..... pretty sure we made mention of the Red Vector candles from 2014 that were above $100 that needed recovering)- Oil actually went to 129.4ish and then did a mega dive.
- After 2 tests of $93 zone a 3 month rally commenced from there to 123.4ish before the 7 week down journey to where we are now.
Sooooo. What now?
We are looking at the same zones to the downside that we were looking at back in Feb. Why because that's where the Green Vector candles are. We are getting there!
For those who trade using EMAs we are coming up to a significant touching point in the daily time frame.
This is where price meets with the 800 EMA.
Why is this so massive?
(i) Because the 200 EMA in the daily was touched/tested twice in December of 2021 and - after the 100 EMA in the daily was broken at the 3rd time of asking in July - 6 times this summer before being broken. This makes the 800 EMA the next logical stop
(ii) this is where a reversal is more than likely to take place.
(iii) The Green Vector candles from 240122/250122 that began the sharp and powerful rises this year are in the vicinity of where the potential contact will take place.
What next?
Remember you heard it here first, there will be some big news that will cause a big drop, but after that there will be a run like never before that will take Oil back above $100 and to $132 where it will make contact with the next Red Weekly Vector candle from July 2008.
There after we believe $143 could be next and at a further stretch there will be a new All Time High made at $147. This could take until 2023 to happen but would be great to happen between Sept/Oct 2022 and March 2023.
We cannot forget that $62 (3 times - May 2021, Aug 2021 & Dec 2021) and $66 Dec 2021) area is actually the real support for the year of 2021. Bear it in mind.
$57 (March 2021) and $53 are levels it can go to break a Bull Heart but sure absolutely everyone is praying against that.
We stand by the theory that the 800 EMA in the daily will be the reversal point. As it is also the 100 EMA for the weekly TF.
Currently, depending on how the next 2 week candles go Price should line up to anywhere from $70 to $78 but could also do it from $80-$83.
We know this is not helping get the best entry prices but really and truly, behavior of price in the next 2 weeks will indicate the best time to get in.
We are waiting for a bottom to form at a place where a strong reaction happens in line with a bunch of confluences and levels aligning.
Good luck traders!
This is not financial advice and should be taken with a pinch of salt!
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